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    5514 War Memorial Dr Peoria, IL 61615

    Sponsored
    For Sale
    Contact for pricing

    Multiple parcels, ideal retail & multi-family.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Peoria, Illinois property offers a unique investment opportunity with several mixed-use land parcels available for sale. Strategically located adjacent to the Grand Prairie Shopping Center, these parcels currently total 92.4 acres and are zoned A1-Agricultural, presenting significant potential for rezoning to accommodate general commercial and multi-family developments. The current offering includes a prime 7.4-acre retail parcel situated on the hard corner of War Memorial Drive and Orange Prairie Road. An additional 7.4-acre parcel lies just south, extending to West Landens Way. Two larger parcels, approximately 27 and 35 acres respectively, are also available and well-suited for multi-family redevelopment. The seller is open to considering alternative subdivision options to meet buyer needs. Exact acreage and dimensions are subject to a professional survey to accommodate specific buyer requirements. Land value ranges from $.85 to $4.5 per square foot, depending on the parcel selected. This presents a rare chance to acquire land in a high-growth area with excellent access to retail and residential amenities. The property's location and zoning potential make it an attractive proposition for developers seeking to capitalize on the area's strong market dynamics. Don't miss this opportunity to secure a piece of Peoria's future. The property is located in Peoria County, Illinois, with a 61615 zip code.

    Property Features for 5514 War Memorial Dr

    General Information

    Property type
    Farms
    Lot Size
    322,344 SF

    HighLights

    • 92.4 acres of mixed‑use land parcels available for sale in Peoria, IL (61615).
    • Prime 7.4‑acre retail parcel at War Memorial Drive and Orange Prairie Road.
    • Adjacent to Grand Prairie Shopping Center.
    • Zoned A1‑Agricultural, with potential for rezoning to commercial and multi‑family.
    • Includes additional parcels ranging from 7.4 to 35 acres, suitable for multi‑family development.
    • Land value: $0.85 to $4.5 per square foot, depending on the parcel.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.679734957221
    Latitude
    40.777027221561

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    FAQs

    What type of property is this?
    Farm - Multiple parcels, ideal retail & multi-family.
    Where is this farm located?
    The property is located at 5514 War Memorial Dr Peoria, IL.
    What are key features of this property?
    This property features: 92.4 acres of mixed-use land parcels available for sale in Peoria, IL (61615).; Prime 7.4-acre retail parcel at War Memorial Drive and Orange Prairie Road.; Adjacent to Grand Prairie Shopping Center.
    Request Owner's contact information
    5514 War Memorial Dr Peoria, IL 61615
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5514 War Memorial Dr Peoria, IL 61615
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